This current phase of the 2019 drilling program is targeting the A2 and A3 High-Grade Domain mine planning sections at a spacing between 9.0 m and 16.7 m based on a geostatistical data spacing report compiled by Clayton V. Deutsch from Resource Modeling Solutions. All drill holes are collared at a steep inclination, then shallowed out between -55° and -60° before intersecting the target by utilizing the latest in directional drilling technology.

Highlights:

A2 High-Grade Domains and Sub-Zone

The highlights below include composite and off-scale radioactivity results from the A2 only, for radioactivity results for the entire hole see Table 1: Arrow Deposit Drill Hole Data.

AR-19-229c5 intersected 44.0 m of total composite mineralization including 14.05 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 98.0 m section (573.0 to 678.0 m). Additionally, of the 14.05 m of off-scale mineralization intersected in the hole 3.35 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

AR-19-239c2 intersected 45.5 m of total composite mineralization including 7.60 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 107.0 m section (642.0 to 749.0 m). Additionally, of the 7.60 m of off-scale mineralization intersected in the hole 1.65 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

AR-19-241c1 intersected 10.0 m of total composite mineralization including 4.65 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 91.0 m section (492.0 to 583.0 m) in the A2 sub-zone. Additionally, of the 4.65 m of off-scale mineralization intersected in the hole 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

AR-19-243c3 intersected 24.5 m of total composite mineralization including 4.45 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.5 m section (593.0 to 678.5 m). Additionally, of the 4.45 m of off-scale mineralization intersected in the hole 0.5 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

AR-19-246c1 intersected 52.0 m of total composite mineralization including 6.70 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 107.5 m section (628.0 to 735.5 m). Additionally, of the 6.7 m of off-scale mineralization intersected in the hole 0.65 m of massive-to-semi massive pitchblende with minimum-greater-than-61,000 cps;

AR-19-247c1 intersected 27.0 m of total composite mineralization including 4.30 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 85.0 m section (605.0 to 690.0 m).

A3 High-Grade Domains and Sub-Zone

The highlights below include composite and off-scale radioactivity results from the A3 only, for radioactivity results for the entire hole see Table 1: Arrow Deposit Drill Hole Data.

AR-19-248c2 intersected 45.5 m of total composite mineralization including 7.30 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within an 89.0 m section (487.0 to 576.0 m);

AR-19-242c2 intersected 51.5 m of total composite mineralization including 5.85 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 92.5 m section (511.0 to 603.5 m);

AR-19-238c3 intersected 28.0 m of total composite mineralization including 5.25 m of total composite off-scale radioactivity (>10,000 to >61,000 cps) within a 101.0 m section (440.0 to 541.0 m);

Drill hole locations are shown in Figure 1, drilling results can be found in table 1. Drill hole descriptions can be found at www.nexgenenergy.ca

Development, Activities & Financial

Expediting Arrow to Feasibility by initiation of a 2-stage (10 rig) high density drilling program that commenced in mid-December 2018 to focus on mine optimization plans based on Measured and Indicated mineral resources.

NexGen commenced an Environmental Assessment on the Rook I Project on April 29, 2019 in accordance with the requirements of both the Environmental Assessment Act and the Canadian Environmental Assessment Act, 2012 ("CEAA 2012") after receiving acceptance of the Rook I Project Description (Technical Proposal) by the Canadian Nuclear Safety Commission ("CNSC") and the Saskatchewan Ministry of Environment ("SMOE"). In addition, NexGen filed an Initial Licence Application with the CNSC under the Nuclear Safety and Control Act in order to obtain a Licence to Prepare Site and Construct for the Project.

As of July 1, 2019, the Company had cash-on-hand of approximately $85 million which fully funds NexGen for all drilling, feasibility and development programs planned this year.

Leigh Curyer, Chief Executive Officer, commented: "The largest drill program currently in Canada and in the Company's history continues to rapidly advance Arrow through to Feasibility Study, detailed design and permitting. These results once again demonstrate the uniqueness of Arrow in terms of high grade and continuity. With the broader team advancing all aspects of development, community and permitting, it is an exciting time at NexGen."

Troy Boisjoli, Vice-President, Operations and Project Development, commented: "This latest batch of radioactivity results from the A2 and A3 High-Grade Domains, again demonstrates our confidence in the continuation of the high-grade mineralization across the Arrow Deposit. The strength of mineralization seen as part of this mine plan development drilling is truly unique and something I've never seen in my career. Not only are we seeing continuity of strong mineralization but also in rock competency throughout the mine plan. We are looking forward to the completion of Phase I (conversion of Indicated Mineral Resource to the measured category) and the start of Phase II (conversion of Inferred Mineral Resource to the Indicated category)."

Table 1: Arrow Deposit Drill Hole Data

Drill Hole

Athabasca Group - Basement Unconformity Depth (m)

Handheld Scintillometer Results (RS-120/125)

Hole ID

Azimuth

Dip

Total Depth (m)

From (m)

To (m)

Width (m)

CPS Range

AR-19-229c5

327

-65

681.00

N/A

464.00

465.00

1.00

<500 - 1900

469.00

469.50

0.50

<500 - 510

472.00

472.50

0.50

<500 - 680

480.50

487.50

7.00

<500 - 5400

490.00

491.00

1.00

<500 - 7200

495.50

501.00

5.50

<500 - 40000

504.50

511.00

6.50

<500 - 9900

513.50

522.50

9.00

<500 - 28300

525.00

537.50

12.50

<500 - 33000

615.00

659.00

44.00

<500 - 61000

AR-19-230c4

327

-65

693.50

N/A

461.50

463.50

2.00

<500 - 930

502.00

502.50

0.50

<500 - 2470

505.00

507.50

2.50

<500 - 3220

514.00

522.50

8.50

<500 - 1700

533.50

534.50

1.00

<500 - 780

559.00

563.50

4.50

<500 - 1800

567.00

567.50

0.50

<500 - 540

601.50

608.50

7.00

<500 - 61000

615.00

617.50

2.50

<500 - 10200

624.00

628.50

4.50

<500 - 1300

639.00

639.50

0.50

<500 - 640

643.00

647.00

4.00

<500 - 7800

655.00

656.00

1.00

<500 - 730

660.00

660.50

0.50

<500 - 530

666.50

668.00

1.50

<500 - 10600

AR-19-232c4

327

-65

645.50

N/A

495.00

496.00

1.00

<500 - 1680

547.00

549.00

2.00

<500 - 26000

551.50

552.00

0.50

<500 - 5100

559.00

572.50

13.50

<500 - 61000

579.50

581.50

2.00

<500 - 51000

584.50

585.00

0.50

<500 - 2300

596.00

598.50

2.50

<500 - 61000

601.50

605.00

3.50

<500 - 47300

609.00

609.50

0.50

<500 - 870

613.50

614.00

0.50

500 - 2700

617.50

618.00

0.50

<500 - 1100

AR-19-233c4

327

-65

558.50

N/A

452.00

458.00

6.00

<500 - 3070

462.00

462.50

0.50

<500 - 530

465.50

466.00

0.50

<500 - 620

484.50

497.00

12.50

<500 - 13400

506.50

521.00

14.50

<500 - 30000

525.00

528.50

3.50

500 - 1350

AR-19-234c3

327

-65

537.00

N/A

460.00

461.50

1.50

<500 - 990

479.00

484.00

5.00

<500 - 1700

487.50

511.00

23.50

<500 - 61000

AR-19-236c3

327

-65

684.50

N/A

461.50

462.50

1.00

<500 - 2100

468.50

469.50

1.00

<500 - 2800

476.50

477.00

0.50

590 - 21000

483.00

486.00

3.00

<500 - 1260

488.50

489.50

1.00

<500 - 1760

498.50

499.50

1.00

<500 - 2700

505.00

506.00

1.00

<500 - 750

515.50

529.50

14.00

<500 - 61000

534.50

535.00

0.50

<500 - 820

542.50

543.50

1.00

<500 - 1100

578.00

586.00

8.00

<500 - 1000

591.00

593.00

2.00

<500 - 1060

596.50

601.50

5.00

<500 - 9300

604.00

617.00

13.00

<500 - 3200

620.50

635.50

15.00

<500 - 61000

638.50

644.50

6.00

<500 - 1430

648.00

649.00

1.00

<500 - 6300

654.00

664.00

10.00

<500 - 53000

677.50

678.00

0.50

<500 - 660

AR-19-236c4

327

-65

699.50

N/A

463.00

463.50

0.50

<500 - 1200

473.50

474.00

0.50

<500 - 800

477.00

478.00

1.00

<500 - 12000

483.00

483.50

0.50

<500 - 1400

490.00

490.50

0.50

<500 - 2000

501.00

502.00

1.00

<500 - 2300

509.00

509.50

0.50

<500 - 2700

515.00

517.00

2.00

<500 - 6800

519.50

533.00

13.50

<500 - 61000

548.00

548.50

0.50

<500 - 620

589.00

589.50

0.50

<500 - 820

594.00

599.00

5.00

<500 - 1800

607.00

609.50

2.50

<500 - 980

616.50

618.00

1.50

<500 - 1500

622.00

624.00

2.00

<500 - 21000

631.50

632.50

1.00

<500 - 1100

635.00

651.50

16.50

<500 - 24000

658.00

665.50

7.50

<500 - 61000

671.00

672.00

1.00

<500 - 3400

AR-19-237c1

327

-65

705.50

128.00

302.00

302.50

0.50

<500 - 560

496.00

497.00

1.00

<500 - 2300

532.50

533.00

0.50

<500 - 1800

545.50

549.50

4.00

<500 - 29000

556.50

558.50

2.00

<500 - 11500

565.50

567.00

1.50

<500 - 6000

570.50

571.50

1.00

<500 - 32000

640.00

645.50

5.50

<500 - 61000

648.00

664.00

16.00

<500 - 52000

667.00

667.50

0.50

<500 - 1200

671.50

672.00

0.50

<500 - 700

677.50

684.50

7.00

<500 - 9800

690.00

690.50

0.50

<500 - 510

AR-19-237c2

327

-65

720.50

N/A

504.00

504.50

0.50

<500 - 2100

520.50

522.00

1.50

<500 - 13500

546.00

546.50

0.50

<500 - 750

554.50

555.00

0.50

<500 - 670

560.50

561.00

0.50

<500 - 1280

563.50

566.50

3.00

<500 - 910

570.00

571.00

1.00

560 - 12800

578.00

580.50

2.50

<500 - 3100

583.50

584.00

0.50

900 - 34000

639.00

648.50

9.50

<500 - 51000

651.00

670.50

19.50

<500 - 20500

678.00

684.00

6.00

<500 - 13600

686.50

688.00

1.50

<500 - 9300

718.00

718.50

0.50

<500 - 700

AR-19-237c3

327

-65

738.50

N/A

450.50

451.00

0.50

<500 - 720

510.00

510.50

0.50

<500 - 9200

526.00

526.50

0.50

<500 - 1100

554.00

560.00

6.00

<500 - 16000

565.00

568.00

3.00

<500 - 5700

573.50

575.50

2.00

<500 - 21000

581.00

583.00

2.00

<500 - 1800

587.00

588.00

1.00

<500 - 1100

595.50

596.00

0.50

<500 - 600

642.00

646.50

4.50

<500 - 3850

652.00

677.50

25.50

<500 - 61000

686.00

686.50

0.50

<500 - 750

691.00

692.50

1.50

<500 - 2900

696.50

697.50

1.00

600 - 13000

700.00

705.00

5.00

<500 - 5000

AR-19-238c1

327

-65

513.50

141.50

438.00

445.00

7.00

<500 - 6000

447.50

448.00

0.50

<500 - 540

454.00

455.50

1.50

<500 - 3700

458.50

463.50

5.00

<500 - 61000

466.50

467.00

0.50

1300 - 61000

471.50

482.50

11.00

<500 - 61000

487.50

491.00

3.50

<500 - 1000

498.00

501.00

3.00

<500 - 780

AR-19-238c2

327

-65

522.50

N/A

426.00

426.50

0.50

<500 - 850

448.50

450.50

2.00

<500 - 2700

455.00

456.50

1.50

<500 - 8300

466.00

467.00

1.00

<500 - 780

472.00

476.50

4.50

<500 - 56400

482.50

492.00

9.50

<500 - 61000

AR-19-238c3

327

-65

540.50

N/A

458.50

461.50

3.00

<500 - 9400

467.00

468.00

1.00

<500 - 8900

477.50

478.00

0.50

<500 - 1000

487.50

490.00

2.50

<500 - 42000

496.50

517.50

21.00

<500 - 61000

AR-19-238c4

327

-65

542.50

N/A

457.00

457.50

0.50

<500 - 2000

473.50

476.50

3.00

<500 - 44000

480.50

481.00

0.50

670 - 28000

499.50

503.00

3.50

<500 - 61000

506.50

522.50

16.00

<500 - 61000

AR-19-239c1

327

-65

729.50

133.00

229.50

230.00

0.50

<500 - 590

452.50

453.00

0.50

<500 - 520

479.00

479.50

0.50

<500 - 650

487.00

488.50

1.50

<500 - 2600

499.50

500.50

1.00

<500 - 3300

513.50

514.00

0.50

<500 - 6800

517.50

520.50

3.00

<500 - 26800

524.50

525.00

0.50

<500 - 650

533.00

540.50

7.50

<500 - 16600

546.00

546.50

0.50

<500 - 3200

550.50

558.50

8.00

<500 - 61000

561.00

567.50

6.50

<500 - 61000

573.00

573.50

0.50

<500 - 5300

579.50

589.50

10.00

<500 - 61000

592.00

593.00

1.00

<500 - 1100

601.50

602.50

1.00

<500 - 1700

651.00

667.50

16.50

<500 - 61000

671.00

672.50

1.50

<500 - 30000

679.50

680.00

0.50

620 - 9800

682.50

690.50

8.00

<500 - 43000

698.50

701.00

2.50

<500 - 45000

AR-19-239c2

327

-65

756.50

N/A

457.50

458.00

0.50

<500 - 660

491.00

497.00

6.00

<500 - 4700

520.00

520.50

0.50

1700 - 41000

523.00

526.00

3.00

<500 - 61000

528.50

533.50

5.00

<500 - 61000

536.00

537.00

1.00

<500 - 3100

540.00

540.50

0.50

<500 - 2500

548.00

549.00

1.00

<500 - 6500

555.50

561.50

6.00

<500 - 46000

567.50

568.00

0.50

<500 - 880

571.50

585.50

14.00

<500 - 43000

596.00

603.50

7.50

<500 - 61000

621.50

623.00

1.50

<500 - 1100

642.00

643.00

1.00

<500 - 850

667.50

668.00

0.50

<500 - 1200

675.00

675.50

0.50

<500 - 2700

682.00

685.00

3.00

<500 - 4000

687.50

688.50

1.00

<500 - 1700

694.00

698.50

4.50

<500 - 1000

703.50

717.50

14.00

<500 - 61000

721.00

739.50

18.50

<500 - 61000

743.50

746.00

2.50

<500 - 4500

AR-19-240c1

327

-65

702.50

130.70

506.00

507.00

1.00

<500 - 820

524.00

524.50

0.50

2300 - 30600

529.50

530.50

1.00

<500 - 5900

538.50

539.00

0.50

<500 - 5300

545.50

550.00

4.50

<500 - 10600

571.00

574.50

3.50

<500 - 9800

578.00

579.00

1.00

<500 - 1900

587.50

588.00

0.50

<500 - 3020

605.00

607.00

2.00

<500 - 2800

619.00

642.00

23.00

<500 - 61000

651.50

654.00

2.50

<500 - 2500

660.00

668.00

8.00

<500 - 3400

672.00

676.00

4.00

<500 - 1250

AR-19-240c2

327

-65

714.00

N/A

514.50

515.00

0.50

<500 - 8100

526.50

527.50

1.00

<500 - 9200

530.50

531.00

0.50

<500 - 11500

544.00

548.50

4.50

<500 - 61000

582.00

584.50

2.50

<500 - 1500

606.50

607.00

0.50

<500 - 950

610.50

611.50

1.00

<500 - 930

615.00

616.00

1.00

<500 - 730

621.00

621.50

0.50

<500 - 810

626.00

628.50

2.50

<500 - 890

632.00

651.50

19.50

<500 - 61000

656.00

656.50

0.50

<500 - 560

680.00

680.50

0.50

<500 - 1000

AR-19-241c1

327

-65

600.50

137.30

412.00

415.50

3.50

<500 - 4800

447.00

449.50

2.50

<500 - 15500

456.00

458.00

2.00

<500 - 550

465.00

465.50

0.50

<500 - 640

474.50

478.00

3.50

<500 - 1100

543.00

543.50

0.50

<500 - 720

556.50

557.00

0.50

<500 - 530

562.00

571.00

9.00

<500 - 61000

AR-19-241c2

327

-65

615.50

N/A

411.00

414.50

3.50

<500 - 7200

423.50

424.00

0.50

<500 - 720

445.50

449.50

4.00

<500 - 9700

455.00

456.00

1.00

<500 - 810

463.50

467.50

4.00

<500 - 1100

472.00

475.00

3.00

<500 - 1000

505.50

506.50

1.00

<500 - 700

570.00

583.50

13.50

<500 - 61000

AR-19-242c1

327

-65

606.50

138.00

453.00

453.50

0.50

<500 - 650

483.50

484.50

1.00

<500 - 5000

492.50

493.50

1.00

<500 - 6000

514.50

516.50

2.00

<500 - 18500

521.50

543.00

21.50

<500 - 34700

547.00

572.00

25.00

<500 - 61000

AR-19-242c2

327

-65

603.50

N/A

486.50

488.00

1.50

<500 - 4800

491.50

494.00

2.50

<500 - 1400

497.50

498.00

0.50

<500 - 640

523.00

531.00

8.00

<500 - 24400

533.50

540.50

7.00

<500 - 41000

543.50

579.50

36.00

<500 - 61000

583.50

584.00

0.50

<500 - 550

AR-19-243c1

327

-65

693.50

123.40

323.50

324.00

0.50

<500 - 690

518.50

519.50

1.00

<500 - 4950

522.00

523.00

1.00

<500 - 4600

528.50

529.50

1.00

<500 - 1300

540.50

543.00

2.50

<500 - 2100

550.00

550.50

0.50

<500 - 3500

557.50

558.50

1.00

<500 - 1200

561.50

562.00

0.50

<500 - 550

569.50

577.50

8.00

<500 - 4000

580.00

582.50

2.50

<500 - 4200

589.00

589.50

0.50

<500 - 1450

613.50

615.50

2.00

<500 - 61000

632.50

636.00

3.50

<500 - 60000

642.50

643.00

0.50

<500 - 1190

645.50

648.00

2.50

<500 - 600

AR-19-243c2

327

-65

696.50

N/A

512.00

512.50

0.50

<500 - 610

522.50

523.00

0.50

520 - 9800

528.00

530.00

2.00

<500 - 16800

555.50

556.00

0.50

<500 - 6200

565.50

566.00

0.50

<500 - 970

570.50

571.00

0.50

<500 - 1800

581.00

582.00

1.00

<500 - 1250

590.50

591.50

1.00

<500 - 590

610.00

611.00

1.00

<500 - 2300

624.50

629.00

4.50

<500 - 12600

631.50

635.50

4.00

<500 - 61000

642.00

642.50

0.50

<500 - 18000

663.00

663.50

0.50

<500 - 1000

AR-19-243c3

327

-65

678.50

N/A

518.50

519.50

1.00

<500 - 8760

522.00

526.00

4.00

<500 - 1680

556.00

557.00

1.00

<500 - 940

561.50

562.50

1.00

<500 - 7000

573.50

575.00

1.50

<500 - 1800

610.50

627.00

16.50

<500 - 61000

629.50

631.50

2.00

<500 - 13700

634.00

639.50

5.50

<500 - 1900

644.50

645.00

0.50

<500 - 1600

AR-19-244c1

327

-65

756.00

125.60

480.50

481.50

1.00

<500 - 740

538.50

539.50

1.00

<500 - 1250

558.50

559.00

0.50

570 - 16600

567.00

567.50

0.50

<500 - 7600

578.00

578.50

0.50

<500 - 1440

590.50

591.50

1.00

<500 - 660

611.50

616.50

5.00

<500 - 61000

621.00

623.50

2.50

<500 - 1700

630.00

638.00

8.00

<500 - 5400

646.50

648.00

1.50

<500 - 1150

652.50

654.00

1.50

<500 - 1000

665.50

666.00

0.50

<500 - 550

671.00

679.50

8.50

<500 - 61000

687.50

698.00

10.50

<500 - 30000

705.00

709.00

4.00

<500 - 12500

714.50

719.00

4.50

<500 - 24000

AR-19-245c1

327

-65

609.00

138.80

418.00

420.00

2.00

<500 - 1300

425.00

431.00

6.00

<500 - 19500

435.00

437.00

2.00

<500 - 740

448.00

449.00

1.00

<500 - 20000

452.00

477.00

25.00

<500 - 48000

574.00

580.00

6.00

<500 - 54100

587.50

588.50

1.00

<500 - 18000

AR-19-245c2

327

-65

774.50

N/A

420.50

421.50

1.00

<500 - 1400

426.00

432.00

6.00

<500 - 35000

440.00

441.50

1.50

<500 - 32000

453.00

456.00

3.00

<500 - 8800

458.50

483.50

25.00

<500 - 61000

578.50

589.00

10.50

<500 - 61000

666.00

667.00

1.00

<500 - 850

679.00

690.50

11.50

<500 - 44400

696.50

697.00

0.50

<500 - 2200

728.00

728.50

0.50

<500 - 820

742.50

748.50

6.00

<500 - 5800

AR-19-245c3

327

-65

636.50

N/A

429.00

429.50

0.50

690 - 13100

435.00

435.50

0.50

590 - 3320

449.50

454.00

4.50

<500 - 61000

458.00

458.50

0.50

580 - 14600

463.00

487.00

24.00

<500 - 61000

576.50

577.00

0.50

<500 - 670

581.00

581.50

0.50

<500 - 880

584.00

586.50

2.50

<500 - 930

589.00

589.50

0.50

<500 - 700

598.00

606.50

8.50

<500 - 13100

AR-19-246c1

327

-65

735.50

130.20

442.50

443.00

0.50

<500 - 1070

464.00

464.50

0.50

<500 - 860

481.00

481.50

0.50

<500 - 2200

488.50

489.50

1.00

<500 - 6200

530.00

532.00

2.00

<500 - 30000

536.50

539.00

2.50

<500 - 2400

546.50

550.00

3.50

<500 - 46800

552.50

554.50

2.00

<500 - 14600

563.00

569.50

6.50

<500 - 61000

582.00

582.50

0.50

575 - 13800

596.50

602.50

6.00

<500 - 1750

607.00

607.50

0.50

<500 - 610

628.50

629.00

0.50

<500 - 1150

632.00

636.00

4.00

<500 - 1800

638.50

639.00

0.50

<500 - 665

646.00

660.00

14.00

<500 - 61000

664.50

692.50

28.00

<500 - 61000

701.00

701.50

0.50

<500 - 720

720.50

723.50

3.00

<500 - 950

726.00

726.50

0.50

<500 - 540

730.00

731.00

1.00

<500 - 2520

AR-19-247c1

327

-65

696.00

126.55

499.00

500.50

1.50

<500 - 22000

519.00

519.50

0.50

<500 - 1300

526.50

531.50

5.00

<500 - 4500

545.50

554.50

9.00

<500 - 38300

617.50

618.00

0.50

<500 - 530

621.00

643.50

22.50

<500 - 61000

648.50

649.00

0.50

<500 - 1750

658.50

662.00

3.50

<500 - 8500

AR-19-247c2

327

-65

711.50

N/A

488.00

488.50

0.50

<500 - 860

506.50

507.00

0.50

<500 - 11300

518.50

519.00

0.50

<500 - 1650

535.50

543.00

7.50

<500 - 5400

547.50

548.00

0.50

<500 - 740

556.50

558.00

1.50

<500 - 11000

565.50

573.00

7.50

<500 - 61000

618.50

621.00

2.50

<500 - 1120

635.50

641.00

5.50

<500 - 1500

644.50

649.00

4.50

<500 - 3100

664.00

664.50

0.50

<500 - 520

669.00

672.00

3.00

<500 - 18700

676.00

678.00

2.00

<500 - 9500

681.00

681.50

0.50

<500 - 8600

AR-19-248c1

327

-65

564.50

138.70

166.50

167.00

0.50

<500 - 810

431.00

431.50

0.50

<500 - 720

459.00

460.00

1.00

<500 - 850

481.00

481.50

0.50

750 - 1300

485.00

493.50

8.50

<500 - 61000

498.00

498.50

0.50

1600 - 40000

501.00

501.50

0.50

540 - 31000

506.50

507.00

0.50

2000 - 61000

510.50

542.00

31.50

<500 - 61000

AR-19-248c2

327

-65

582.50

N/A

471.50

476.50

5.00

<500 - 2000

496.50

497.00

0.50

<500 - 2200

499.50

502.00

2.50

<500 - 8300

506.00

506.50

0.50

3500 - 61000

510.00

511.50

1.50

<500 - 12800

515.50

517.00

1.50

<500 - 15600

519.50

558.50

39.00

<500 - 61000

AR-19-248c3

327

-65

588.50

N/A

472.50

484.00

11.50

<500 - 2760

487.50

488.50

1.00

<500 - 660

502.50

506.00

3.50

<500 - 61000

508.50

512.50

4.00

<500 - 61000

515.50

519.50

4.00

<500 - 10500

522.00

526.00

4.00

<500 - 39000

529.00

530.00

1.00

<500 - 20700

534.00

539.50

5.50

<500 - 19600

542.00

545.00

3.00

<500 - 61000

553.50

564.00

10.50

<500 - 61000

571.50

577.50

6.00

<500 - 3700

AR-19-249c1

327

-65

780.00

135.15

271.00

271.50

0.50

<500 - 610

462.00

464.00

2.00

<500 - 3800

483.00

484.00

1.00

<500 - 550

499.50

500.00

0.50

<500 - 730

503.50

505.50

2.00

<500 - 2700

517.50

521.00

3.50

<500 - 730

531.00

532.00

1.00

<500 - 1370

556.50

559.00

2.50

<500 - 22700

570.50

571.00

0.50

<500 - 560

580.00

589.00

9.00

<500 - 61000

592.00

596.00

4.00

<500 - 27000

601.50

603.50

2.00

<500 - 61000

618.50

619.00

0.50

<500 - 520

630.00

634.50

4.50

<500 - 14100

643.00

643.50

0.50

<500 - 510

666.00

666.50

0.50

<500 - 2700

682.50

683.50

1.00

<500 - 730

686.50

704.00

17.50

<500 - 44600

716.50

717.00

0.50

<500 - 970

720.00

720.50

0.50

<500 - 720

723.00

727.00

4.00

<500 - 1400

731.00

741.50

10.50

<500 - 61000

747.50

749.50

2.00

<500 - 11500

AR-19-249c2

327

-65

783.50

N/A

473.00

475.50

2.50

<500 - 2200

487.00

490.50

3.50

<500 - 1560

501.50

503.50

2.00

<500 - 1600

513.50

514.00

0.50

<500 - 520

540.00

541.50

1.50

<500 - 1050

565.50

566.00

0.50

800 - 30000

570.00

571.00

1.00

<500 - 31000

588.00

593.00

5.00

<500 - 16500

595.50

596.50

1.00

<500 - 3070

600.50

615.50

15.00

<500 - 61000

620.00

621.00

1.00

<500 - 4700

635.00

652.00

17.00

<500 - 8600

658.00

660.50

2.50

<500 - 560

663.00

663.50

0.50

<500 - 750

691.50

698.00

6.50

<500 - 2280

701.00

708.00

7.00

<500 - 22200

711.00

712.00

1.00

<500 - 2000

717.00

737.50

20.50

<500 - 45000

741.00

748.50

7.50

<500 - 13800

AR-19-250c1

327

-65

732.50

124.70

489.50

490.00

0.50

<500 - 1500

539.50

540.50

1.00

<500 - 45000

543.50

547.00

3.50

<500 - 7500

553.50

559.00

5.50

<500 - 15900

561.50

562.00

0.50

1400 - 61000

580.50

581.00

0.50

<500 - 2400

583.50

584.50

1.00

<500 - 770

595.00

595.50

0.50

<500 - 1900

605.00

606.50

1.50

<500 - 780

610.50

611.00

0.50

<500 - 850

614.50

615.50

1.00

<500 - 3900

636.50

637.00

0.50

<500 - 530

644.50

645.00

0.50

<500 - 950

652.50

668.00

15.50

<500 - 61000

AR-19-250c2

327

-65

744.00

N/A

490.00

491.00

1.00

<500 - 6100

531.00

531.50

0.50

<500 - 510

544.00

545.50

1.50

<500 - 31000

553.00

556.00

3.00

<500 - 61000

560.00

566.50

6.50

<500 - 51000

586.50

587.00

0.50

<500 - 970

592.50

593.00

0.50

<500 - 600

606.00

608.50

2.50

<500 - 1900

615.50

616.00

0.50

<500 - 1300

636.50

637.50

1.00

<500 - 2810

647.00

649.50

2.50

<500 - 760

653.00

668.00

15.00

<500 - 61000

693.50

700.50

7.00

<500 - 1260

AR-19-250c3

327

-65

756.50

N/A

429.00

429.50

0.50

<500 - 1040

492.50

493.00

0.50

<500 - 2600

533.00

533.50

0.50

<500 - 3600

547.50

548.50

1.00

<500 - 31000

554.00

565.00

11.00

<500 - 61000

567.50

568.50

1.00

<500 - 10600

576.00

576.50

0.50

<500 - 830

585.00

586.00

1.00

<500 - 4000

592.50

593.00

0.50

<500 - 1200

604.50

605.00

0.50

<500 - 800

608.00

612.00

4.00

<500 - 1200

614.50

615.50

1.00

<500 - 910

623.50

625.00

1.50

<500 - 1000

627.50

628.00

0.50

<500 - 610

651.00

651.50

0.50

<500 - 1060

655.50

658.00

2.50

<500 - 3700

662.50

676.00

13.50

<500 - 61000

679.50

680.00

0.50

<500 - 1240

686.00

687.50

1.50

<500 - 830

695.50

696.00

0.50

<500 - 2200

Parameters:

Maximum internal dilution 2.00 m downhole

All depths and intervals are metres downhole, true thicknesses are yet to be determined

Where "Min cps" is <500 cps, this refers to local low radiometric zones within the overall radioactive interval

Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada; including a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC's 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O'Hara, P.Eng. of Wood., David Robson, P.Eng., M.B.A., and Jason Cox, P.Eng. of RPA, each of whom is a "qualified person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI-43-101").

The Mineral Resource Estimate was completed by Mr. Mark Mathisen, C.P.G., Senior Geologist at RPA and Mr. David Ross, P.Geo., Director of Resource Estimation and Principal Geologist at RPA. Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli, Geoscientist Licensee, Vice President – Operations & Project Development for NexGen. Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols. All other technical information in this news release has been approved by Mr. James Hatley, a Professional Engineer, Senior Vice-President – Project Development for NexGen. Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a "final" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as "reserves" under SEC standards. In addition, the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of "contained pounds" in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled "Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study" dated effective 5 November, 2018 (the "Rook 1 Technical Report") prepared by Paul O'Hara, P.Eng., Jason J. Cox, P.Eng., David M. Robson, P.Eng., M.B.A., Mark B. Mathisen, C.P.G. each of whom is a "qualified person" under NI 43-101. The Rook I Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com and EDGAR (www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy's website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company's Annual Information Form dated March 4, 2019 under "Risk Factors".

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.